Loyalty Program: 5 Reasons Why Your Company Should Launch One

loyalty program

When your birthday rolls around every year, you wake up excited and happy for a day all about celebrating you. You check your email inbox and you have messages from your favorite companies giving you a little something extra for your special day! Starbucks treating you to a drink on them, or Ulta offering extra discounts your whole birthday month. What an exciting treat having a loyalty program!

These are perfect examples of effective brand loyalty programs. Companies use rewards programs to show their loyal customers that they are appreciated. There are many different loyalty programs, so you can get creative with what best fits your business. Give a little back when your customers spend a certain amount or let them track their visits to your business and reward them after their tenth trip in. Whether you’re creating a VIP program where consumers can buy into extra perks or simply letting them start a free punch card, it’s no secret that loyalty programs encourage, you guessed it, loyalty.

If you haven’t started a loyalty program for your business, what are you waiting for? There are so many great reasons to start today!

 

 

Create Lifelong Customers with a Loyalty Program

It’s called a loyalty program because creating customer loyalty is your priority. Consumers who receive rewards and perks are more likely to stay committed to your brand for a long time. High lifetime customer value can lead to success for your business, especially online. You want your clients and customers to rely on your product and come back for more for years to come. They’re more likely to stay committed if they clearly see the perks and points they collect by staying committed to your brand.

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Increase Purchase Amounts

Everybody loves a good sale or promotion. You know those deals where you “buy three, get one free.” The indication that you could get something for free, makes you purchase the amount necessary to get the freebie. So while you walked into the store only needing one tube of hand soap, you walk out with four, spent more money than you intended, but are still convinced you’re the one who lucked out and saved. Loyalty programs can create this same incentive. Set a deal or give your customers more rewards points once they reach a certain amount spent. These loyalty programs will make you more money on every transaction.

 

 

Better Data

If a customer is willing to sign up for a rewards program, they’re already invested in your company. Their records will be more detailed than a one-time customer. You can study the trends and data from your most loyal rewards members to hone your target audience. You are also learning how to engage new populations and make products best first for your audience. Getting to know your loyal customers helps you serve them better.

More Engagement

Loyalty programs also make your customers feel like they’re a part of the action. If they’re on the team, they’re more likely to engage with you by opening marketing emails or posting user-generated content on their social media. Loyalty members will want to chat with you and stay current on what’s happening with your business. These are the people you can contact through your outbound call center to take surveys or approach for fundraisers. Outbound campaigns require the right team to work the call center and reach your audience through all different channels. But if you start with customers who are already interested, it’ll make the job easier for the telemarketing team.

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Relevancy of a Loyalty Program

In our today’s climate, if you aren’t constantly on your client’s radar, they may forget about you. So in a simple way, having a loyalty card that your customers keep in their wallet will ensure you’re still on their mind. Stay relevant and involved by reminding your consumers that they are due for rewards with your company.

 

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